The Adam's Mark luxury hotel chain agreed today to pay $8 million, revise its policies and seek minority customers in settlements of race discrimination lawsuits by the Justice Department, the State of Florida and a group of black guests.
To spread the pro-consumer message, the industry might do better simply to run advertisements featuring real customers with settlement-fattened wallets.
Hedge funds want hot issues, structured derivatives, margin, stock-lending for short sales and the equivalent for fixed-income, clearing and settlement, customer support and marketing.
Under the proposed settlement, customer lists can be sold, but only if those on the lists are informed and given a chance to object.
In the meantime, it's highly likely that a debt settlement customer will be subject to aggressive calls from bill collectors.
Third, this paper points to some significant new departures in British utility regulation that might allow for an extension of the emphasis placed on 'discovery' in the initial 1983 report, namely growing emphasis on negotiated settlements and customer engagement.
If a broker seeks expungement after reaching a confidential settlement with a customer, Finra says arbitrators must review the settlement documents and hold a recorded hearing.
Besides paying each eligible customer $15, the proposed settlement reserved $4.25 million for lawyers' fees.
Purseus intends to harness the banks' own message system, SWIFT, to speed up the settlement of customer payments between banks.
"We've looked at many scenarios, including where one or more countries decides to redenominate," said Roger Griffith, who oversees global settlement and customer risk for MasterCard.
